The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1887-10-13
GARRETT RESIGNS
TIE rnEsIDENcY OF THE b. & 0.
Meeting OK tho Board Of Directors Ysstsr-
day Dividends Passed and Dividends
d-Resolutions OF Regret at
Mr.. CARROTS Ultimatu,n,

BALTIMORE, Oct. 12.-The board OF dl.
rectora oi the Baltimore & Ohio Railroad
Company held their regular meeting to.
day. The county and State as well az the
private ascckholders were fully represent.
cd. The board authorized the payment
Of five per cent dividend on tho stock Of
the Washington branch. The recommen.
dation Of the finance committee that no
dividend be paid on the stock Of tho main
line for the past elk months was adopted.
The sale Of the Baltimore & Ohio telegraph
to the Western Union Telegraph Com.
pany was ratified. The railroad company
receives lor this property $4,000 in
stock OF the Western Union, and an annual
rental OF $4,000. The following letter
was then road from Mr.. Robert Garrett.
reslgning the presidency Of the Baltimore
& Ohio Company. &,s.
Ia BALTIMORE, Nd, Oct. 0, 1887.
To The Directors Of the baltimore & Ohio Railroad
Company: T.at. ~ 'Ss-s9'' = lfEIi.7s -.
GENrLBMEN:-It is well known to MANY
Of you that 1t has been for some time nv
61ed deslre and intention to withdraw,
when | properly could, from the lsbors
which have been imposed upon me by nv
official position as president OF the Balti.
more d Ohio Railroad Company. But, as
you are also aware, the policy and uudsr.
standings OF the company, which neces.
sarily assumed at the time accented the
presidency, were such as to rondsr it i'm.
proper for me with due regard to the In.
forests involved, to withdraw from their
prosecution. Now, however, that arrange.
ments have been made which, as I hone
and believe, will secure many OF tho ends
Tor which We have 80 long struggled, and
the business and finances Of the company
being in sound and satisfactory condi.
ton, / am in position to tender you, as
l do hereby, my resignation as president
OF the company. l thank you for the
courtesy and consideration which Won
have uniformly extended to me, and I
trust you will be able within a brief
period 70 fix upon proper person to
whom l may surrender the trust with
which you have honored me. am,
-. ,,,2#e Very respectfully,
(eigned) ROBERT GARRETT.
After few feeling remarks by MI. Nc.
kenny White, city director, and MI. W.
F. Burns, President pro. tem., who pre-
sided over the meeting in the absence Of
Mr.. Garrett, the resignation was ACCEPTED.
and the following resolution unanimously
adopted:
"Reso'rtl. That in accepting the resir.
nation Of Robert Garrett Of the Presidency
Of this Company We do with deep repret.
We know how earnest has been his desire
to withdraw from the exacting duties Of
the office, and how imperative, up to this
time, has been the necessity that he should
not do so. Many Of the measures OF pol |
icy whose completion was undertaken |
when he became President, have haen
pursued through difficulty and peril, tin |
their success is no longer doubtful. We |
appreciate the fact that this result has
been largely due to discourage and unsel- |
fish devotion 10 the company's interest. |
and congratulate him on the fact that in |
leaving the ofiice at this timo he moi on]v
does 80 with the affection and respect Of
all those connected with tho Company
but with a recognition by all those &C.
quainted with it, Of how great have been
the services he hss rendered." ~
Mr.. George Vsn Bibber, city director.
nominated Mr.. Robert Garrett as a d. |
rector to fill the vacancy made by the
death Of Colonel J. spesr Nichols. It is |
understood that he will occupy places in |
all the important committees. Meantime
Mr.. VIM. F. Burns will act Us president
until the election Of SUCCESSOR to Mr,
Garrett at the annual meeting Of the
stockholders in November.